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Consolidated Statements of Assets and Liabilities
€ in Thousands, £ in Thousands, $ in Thousands
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2023
GBP (£)
shares
Dec. 31, 2023
EUR (€)
shares
Sep. 30, 2023
$ / shares
Jun. 30, 2023
$ / shares
Mar. 31, 2023
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
shares
Dec. 31, 2022
GBP (£)
shares
Dec. 31, 2022
EUR (€)
shares
Sep. 30, 2022
$ / shares
Jun. 30, 2022
$ / shares
Mar. 31, 2022
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
shares
Dec. 31, 2021
GBP (£)
shares
Dec. 31, 2021
EUR (€)
shares
Dec. 31, 2020
USD ($)
$ / shares
shares
Dec. 31, 2019
USD ($)
$ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Assets                                            
Investments at fair value $ 3,011,322 [1]           $ 3,221,247 [2]                              
Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively) 16,500           16,539                              
Cash and cash equivalents 70,090           71,190                              
Interest and dividend receivable 44,107           36,154                              
Deferred tax asset 594           0                              
Other assets 16,519           9,797                              
Total assets 3,159,214           3,354,927                              
Borrowings                                            
Unsecured Notes 506,500           531,500           $ 511,500                  
SBA-guaranteed debentures 300,000           300,000           300,000     $ 300,000 $ 225,000 $ 165,000 $ 150,000 $ 121,700 $ 117,700 $ 37,500
Convertible Notes 260,207           316,853                              
Deferred financing costs (net of accumulated amortization of $54,263 and $47,531, respectively) (22,387)           (17,199)                              
Net borrowings 1,785,449           1,980,661                              
Management fee payable 10,116           10,524                              
Incentive fee payable 8,555           6,296                              
Interest payable 20,440           19,627                              
Deferred tax liability 0           8,487                              
Total liabilities 1,827,491           2,028,736                              
Commitments and contingencies (See Note 9)                                        
Net assets                                            
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued 0           0                              
Common stock, par value $0.01 per share, 200,000,000 shares authorized and 102,558,859 and 100,937,026 shares issued and outstanding, respectively 1,026           1,009                              
Paid in capital in excess of par 1,331,269           1,305,945                              
Accumulated undistributed earnings (12,344)           7,519           47,470                  
Total net assets of New Mountain Finance Corporation 1,319,951           1,314,473                              
Non-controlling interest in New Mountain Net Lease Corporation 11,772           11,718                              
Total net assets 1,331,723           1,326,191           $ 1,342,612     $ 1,236,889            
Total liabilities and net assets $ 3,159,214           $ 3,354,927                              
Number of shares outstanding (in shares) | shares 102,558,859 102,558,859 102,558,859       100,937,026 100,937,026 100,937,026       97,907,441 97,907,441 97,907,441 96,827,342 96,827,342          
Net asset value per share of New Mountain Finance Corporation (in dollars per share) | $ / shares $ 12.87     $ 13.06 $ 13.14 $ 13.14 $ 13.02     $ 13.20 $ 13.42 $ 13.56 $ 13.49     $ 12.62 $ 13.26 $ 13.22        
Affiliated entity                                            
Assets                                            
Receivable from affiliates $ 82           $ 0                              
Borrowings                                            
Other liabilities 0           78                              
Nonrelated Party                                            
Borrowings                                            
Other liabilities 2,931           3,063                              
Holdings Credit Facility                                            
Borrowings                                            
Credit facility 515,063           618,963           $ 545,263                  
DB Credit Facility                                            
Borrowings                                            
Credit facility 186,400           186,400                              
DB Credit Facility | Revolving Credit Facility                                            
Borrowings                                            
Credit facility                         244,000                  
NMFC Credit Facility                                            
Borrowings                                            
Credit facility 36,813           40,359                              
NMFC Credit Facility | Revolving Credit Facility                                            
Borrowings                                            
Credit facility   £ 22,900 € 700         £ 22,900 € 700       127,192 £ 16,400 € 0              
NMNLC Credit Facility II                                            
Borrowings                                            
Credit facility 2,853           3,785                              
NMNLC Credit Facility II | Revolving Credit Facility                                            
Borrowings                                            
Credit facility 2,853           3,785           15,200                  
Non-controlled/Non-affiliated                                            
Assets                                            
Investments at fair value 2,209,867           2,400,425                              
Non-controlled/Affiliated                                            
Assets                                            
Investments at fair value 133,659           130,787 [3]           134,775                  
Controlled                                            
Assets                                            
Investments at fair value $ 667,796           $ 690,035           $ 755,810                  
[1] New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.
[2] New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.
[3] Denotes investments in which the Company is an “Affiliated Person”, as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), due to owning or holding the power to vote 5.0% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of December 31, 2022 and December 31, 2021 along with transactions during the year ended December 31, 2022 in which the issuer was a non-controlled/affiliated investment is as follows:
Portfolio CompanyFair Value at December 31, 2021Gross
Additions (A)		Gross
Redemptions
(B)		Net Change In Unrealized Appreciation (Depreciation)Fair Value at December 31, 2022Net Realized Gains (Losses)Interest
Income		Dividend
Income		Other
Income
Permian Holdco 3, Inc. / Permian Trust$— $— $— $— $— $— $— $— $— 
Sierra Hamilton Holdings Corporation4,000 — — — 4,000 — — — — 
TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC130,775 5,168 — (9,156)126,787 — 2,105 4,109 250 
Total Non-Controlled/Affiliated Investments$134,775 $5,168 $— $(9,156)$130,787 $— $2,105 $4,109 $250 
(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, payment-in-kind (“PIK”) interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement at fair value of an existing portfolio company into this category from a different category.
(B)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.